Disney CEO Bob Iger resigns from Apple board of directors
Apple is spending millions of dollars to secure original content for their service which will start at $4.99 a month. The service will be released on 1 November and the price undercuts Disney’s subscription service price which will cost $6.99 a month.
“While we will greatly miss his contributions as a board member, we respect his decision and we have every expectation that our relationship with both Bob and Disney will continue far into the future,” Apple said in a statement.
Steve Jobs was a Disney director and major shareholder after the company bought Pixar, a digital animation studio majority owned by Jobs. Iber became a director at Apple shortly after Jobs’ death.
“I have the utmost respect for Tim Cook, his team at Apple, and for my fellow board members,” Iger said in a statement. “Apple is one of the world’s most admired companies, known for the quality and integrity of its products and its people.”
Disney will feature their classic children’s content on their streaming service.